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Ørsted secures nearly €2bn through green bonds

By: Tom Russell 07/09/2022 Ørsted

General Windfarms

Ørsted has secured investor commitment for an aggregate amount of nominal €900 million and £950 million through the issuance of green senior bonds. The company revealed the funds will help finance its global build-out of renewable energy and its green growth ambition of reaching approximately 50 GW of installed capacity by 2030.

Ørsted has completed the pricing of the new unsecured green senior bonds of nominal €900 million and £950 million in total, comprising a €900 million fixed-rate tranche with maturity in 2031, a £375 million fixed-rate tranche with maturity in 2034, and a £575 million fixed-rate tranche with maturity in 2042. All bonds are issued as green bonds in accordance with Ørsted’s green finance framework.

Ørsted recently put one of the largest offshore wind farms in the world, Hornsea 2, into operation. The project is located 89km off the Yorkshire Coast, alongside its sister project Hornsea 1, and is expected to help power over 1.4 million UK homes.

Hornsea 2 is comprises of 165 wind turbines, and has an overall capacity of 1.3 GW. Each turbine blade is 81m long and the blade tip reaches more than 200m above sea level. One revolution of the turbine blades can power an average UK home for 24 hours A total of 390km of subsea export cables take the power generated from Hornsea 2 to the shore at Horseshoe Point in Lincolnshire.
Ørsted is also currently building the Greater Changhua 1 & 2a wind farm in Taiwan and its early stage projects South Fork, Borkum Riffgrund 3, and Gode Wind 3 are all progressing according to plan.

Ørsted currently has approximately 8.9 GW offshore wind in operation, approximately 2.2 GW under construction, and another almost 11 GW of awarded capacity under development including Hornsea 3.

For more information on offshore wind farms worldwide, click here.

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Ørsted secures nearly €2bn through green bonds

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